LO.B. TIMBER COMPANY.

Auckland Star, Volume XXXVIII, Issue 262, 2 November 1907, Page 6

LO.B. TIMBER COMPANY.

The tenth annual regprt of the directors states that there has J>«sii another satisfactory year's operations. Jhe profit earned for the past year, includni£ the balance brought forward, amounts %° £10,486 9/3. From this the following' appropriations are recommended: — To payment of a dividend of 10 per cent, (free of income-tax), one-half of which was paid in April last, £3,500, payment of a bonus of 5 per cent, £1750, credit reserve fund, advantageously used in the business, (making this account up to £37,000), £4000; bonus to employees, £225; directors' honoraria, £250; to carry forward, £701 9/3; total £10,486 9/3. The whole of the Company's plant, including mills and S.S. Stella, has been kept -well up to date, and is in thoroughly good order and condition. After holding the chairmanship since the inception of the company, ten years ago, Colonel Burton, much to the regret of his codirectors, recently retired from the Board on account of his leaving for England, where he intends to reside. Messrs. James Henderson and George Elliot retire from the board of directors, but are eligible, and offer themselves for re-eleei tion. The auditor, Mr. Seering H. Matthews, also retires, and again offers his: services to the company.